Spread betting at FXCM

[Jason Rogers]

Hi Jason,
so effectively, negative balance protection is gone?, or gone over 50K?,,,
Cheers

Clients subject to the Negative Balance Policy who incur negative balances in excess of US $50,000 (determined by aggregating all of the client's negative balances across all accounts held by FXCM and any of its affiliate(s), incurred over a 24 hour period of time) will be responsible for and owe FXCM the value of the total negative balance above US $50,000, regardless of market conditions.

Subject to certain exceptions, FXCM will waive the first US $50,000 of a client's total negative balance (determined by aggregating all of the client's negative balances across all accounts held by the FXCM group, incurred over a 24 hour period of time). This policy will apply to negative balances incurred during all market conditions, including exceptional market movements.

Specific Exceptions: Each client's master trading agreement will detail all of the specific exceptions to the Negative Balance Policy. Some of the key exceptions to this policy include the following: negative balances incurred by legal entities, omnibus relationships, white label relationships, Eligible Contract Participants, Eligible Counterparties and/or Professional Clients (as defined in the client's master trading agreement) and/or negative balances incurred on share CFD positions or products traded on an exchange.

 

[Shadowman540]

Hi Jason,
Still not getting this, can anyone explain it to me?.
Iam reading anything over 50k the client is responsible for, (that's me), then under that I read fxcm may waive the the 1st 50k, suggesting that we are responsible for the 1st 50k also, so we are responsible for it all?, and there is no negative equaty policy?
Cheers

 

[Jason Rogers]

Hi Jason,
Still not getting this, can anyone explain it to me?.
Iam reading anything over 50k the client is responsible for, (that's me), then under that I read fxcm may waive the the 1st 50k, suggesting that we are responsible for the 1st 50k also, so we are responsible for it all?, and there is no negative equaty policy?
Cheers

Hi Shadowman,

When we say that we will waive the first 50k we mean you would only be responsible for and owe FXCM the value of the total negative balance above 50k. For example, if you had a negative balance of 51k, then we would waive 50k, and you would be responsible for and owe 1k.

 

[Jason Rogers]

Holiday Trading Hours for May

Below are the holiday trading hours in May for stock indices, metals and energy products. Forex trading hours remain unchanged, and you can view the holiday rollover interest schedule here: http://bit.ly/14Wwoso

Times below are in GMT

 

[Jason Rogers]

Holiday Trading Hours for June

Below are the holiday trading hours in June for stock indices, metals and energy products. Forex trading hours remain unchanged, and you can view the holiday rollover interest schedule here: http://bit.ly/14Wwoso

 

[Jason Rogers]

Euro Set for Rocky Week as Greece Stares into the Abyss

What currency strategist Christopher Vecchio noted on DailyFX.com last Friday, but is absolutely worth reiterating now, is the notion of risk management with respect to the EUR-crosses. It may be deemed best risk management practice for traders to reduce position size and leverage in EUR-crosses for the foreseeable future.

Past performance is not necessarily indicative of future results.​

While the potential outcome for Greece is unknown - the absolute magnitude of the fallout around a positive or negative outcome will be enough to have a significant impact on prices over the coming week at a minimum.

 

[Jason Rogers]

What are the Critical Dates for Greece and the Euro?

Data Source: Bloomberg, Wall Street Journal. Prepared by David Rodriguez, Quantitative Strategist for DailyFX.com​

What’s the Most Important Date on the Calendar?

In concrete terms, the single most significant deadline on the calendar is likely the European Central Bank bond repayment due on July, 19—assuming that the Greek Government remains solvent up until that point.

Any surprises could force substantial market moves, and traders should limit trading leverage—particularly in EUR pairs—ahead of the key dates. Caution is advised until we see a true breakthrough in negotiations.

 

[Jason Rogers]

Holiday Trading Hours for July

Below are the holiday trading hours in June for stock indices, metals and energy products. Forex trading hours remain unchanged, and you can view the holiday rollover interest schedule here: bit.ly/14Wwoso

Times below are in GMT

 

[Mateus]

Jason, please can you answer my questions, I apologise if they have been asked previously.

I want to trade forex with NinjaTrader7. I know that you are compatible/support this platform but can you confirm you offer spread betting through NT7.

Can you also tell me the minimum account opening size also.

Thanks

P.s I think having a company rep on T2W is a great idea.

 

[Jason Rogers]

Jason, please can you answer my questions, I apologise if they have been asked previously.

I want to trade forex with NinjaTrader7. I know that you are compatible/support this platform but can you confirm you offer spread betting through NT7.

Can you also tell me the minimum account opening size also.

Thanks

P.s I think having a company rep on T2W is a great idea.

Hi Mateus,

Yes, the NinjaTrader platform is available to you as a spread betting client of FXCM. The minimum to open a spread betting account is £2000. Just make sure to select NinjaTrader as your preferred platform and tick the spread betting box on the account opening page.

 

[Jason Rogers]

Holiday Trading Hours for September

Below are the CFD holiday trading hours in September for stock indices, metals and energy products. Forex trading hours remain unchanged.

Times below are in GMT

Note that there will be 4 days of rollover interest earned or paid on all currency trades open today at 5pm New York Time (21:00 GMT).

You can view the complete holiday rollover interest schedule here: http://bit.ly/14Wwoso

 

[Jason Rogers]

Jason, please can you answer my questions, I apologise if they have been asked previously.

I want to trade forex with NinjaTrader7. I know that you are compatible/support this platform but can you confirm you offer spread betting through NT7.

Can you also tell me the minimum account opening size also.

Thanks

P.s I think having a company rep on T2W is a great idea.

Hi Mateus,

Yes, the NinjaTrader platform is available to you as a spread betting client of FXCM. The minimum to open a spread betting account is £2000. Just make sure to select NinjaTrader as your preferred platform and tick the spread betting box on the account opening page.

Hi Mateus,

I apologize for my error, but I provided you with incorrect information earlier. NinjaTrader is not available for spread betting accounts. In order to use that platform, your account must be set up as a non-spread betting account.

Spread betting accounts can use the following platforms: Trading Station (Desktop, Mobile and Web), MT4, Mirror Trader and ZuluTrade.

 

[Paulstar]

Hi Jason,

Apologies if this question has been asked previously (I'm guessing it has), but i'm interested in opening up a mini account with yourselves. What are the main differences between this and a standard account?

Many Thanks
Paul

 

[Jason Rogers]

Hi Jason,

Apologies if this question has been asked previously (I'm guessing it has), but i'm interested in opening up a mini account with yourselves. What are the main differences between this and a standard account?

Many Thanks
Paul

Hi Paul,

A mini account lets you trade with a smaller balance (open with a little as £50) and higher leverage (up to 400:1) on 18 of the most popular currency pairs. A standard account offers you our No Dealing Desk (NDD) forex execution with more currency pairs (40) but the starting minimum is higher (£2000) and leverage is limited to 100:1. This page has more details comparing our account options: http://bit.ly/1Pjty6Q

 

[Paulstar]

Hi Paul,

A mini account lets you trade with a smaller balance (open with a little as £50) and higher leverage (up to 400:1) on 18 of the most popular currency pairs. A standard account offers you our No Dealing Desk (NDD) forex execution with more currency pairs (40) but the starting minimum is higher (£2000) and leverage is limited to 100:1. This page has more details comparing our account options: http://bit.ly/1Pjty6Q

Many thanks for the info Jason.

I've opened up a practise account this afternoon. So will let you know how I get on.

Cheers
Paul

 

[Jason Rogers]

Update to Trading Station Desktop

The latest version of Trading Station Desktop is now available for download.


We've made 176 performance enhancements to improve order execution and further stabilize the platform, along with many other polishes to functionality to optimize your trading experience. Below are a couple of the new features.


Good-Till-Date Entry Orders

Market Behavior Indicators

 

[Oscar Reed]

Hi Jason

Just a couple of questions.

You not able to place pending orders when the market is closed.
There is no watchlist, thats show for example that the DOW 30 is up 70 points at 1% say for that day

Cheers
Oscar

 

[Jason Rogers]

Hi Jason

Just a couple of questions.

You not able to place pending orders when the market is closed.
There is no watchlist, thats show for example that the DOW 30 is up 70 points at 1% say for that day

Cheers
Oscar

Hi Oscar,

You can only place orders when the market is open for trading. In regards to watching how much the market is up or down for the day, you may be interested in this Day Change indicator for Trading Station Desktop: http://bit.ly/1PHrWDl

 

[Jason Rogers]

Trading Hours for End of Daylight Savings Time

Please note the upcoming changes to trading hours for stock indices, metals and energy products due to the end of daylight savings time in Europe and the United States on 25 October and 1 November respectively. Complete details can be found at the FXCM Platform Update Center.


Forex Trading Hours

In terms of New York Time, the trading desk will still open at 5pm on Sunday and close at 5pm on Friday as always. However, since New York Time will shift on 1 November from GMT-4 to GMT-5, the trading desk hours will also shift by one hour in GMT terms. Starting that week, the trading desk will open at 22:00 GMT on Sunday and close at 22:00 GMT on Friday.


A special note for all MT4 clients on our New York Close servers

The time zone on our New York Close MT4 servers will change on the weekend of 1 November from GMT+3 to GMT+2. In this way, midnight on your MT4 charts will stay in line with the 5pm New York Close. If you have any EAs or indicators that use a GMT offset, please update them to GMT+2 that weekend.

 

[Jason Rogers]

Holiday Trading Hours for November

Here's a link to the November holiday trading hours for metals, indices and energy products: http://bit.ly/1MF8d2l

Forex trading hours remain unchanged.

Note that there will be 4 days of rollover interest earned or paid on all currency trades open on Tuesday, November 24th at 5pm New York Time (22:00 GMT).

You can view the complete holiday rollover interest schedule here: http://bit.ly/1OTyZK6